St. Paul daily globe., 1887-09-27
THE COMMERCIAL RECORD.
Operators Oh the Chicago Board Trying
to Selve the Problem of Fut-
IRE Prices.
Wheat Opened Somewhat Unsteady ami
Continued Active Through
the Session.
Transactions in the Financial Circles
of Wall Street.-The Gen.
eral Quotations.
Special to the Globe.

opinion was divided as to whether the deal
had been abandoned or the break engineered
TO shake out the tailers. \ good many ribs
were bought on the latter theory. Their pur
chase sent the price up TO $3.50 This morning
the would be tailers tried to sell out but thele
were no buyers. A sickening slump tol-
lowed few small lots were sold at $500
or zoe under Saturdays closing price, and Il
few minutes S7.65 was the market. 1t re-
bounded 10 $50 and then settled back to
S7.75, at which point there were good buy
ing orders The break hardly caused rip
Pile The short interest is supposed to have
disappeared from October ribs, and
WITHOUT sHoRT INTEREST,
n deal or corner is worse than Il barren
ideality" Other hog products sympathized
to Il greater or less extent with October ribs
nj first but the weakness was temporary and
the market developed considerable tirmneSs
as the day wore away, though there was
nothing like a boom visible to the naked eye.
The cousumptive demand for product holds
up remarkably well. There was a roaring
trade in wheat today and prices advanced a
full cent. The feature of the day was the
heavy buying by Fleming Il Boyden and by
the miscellaneous crowd of shorts. The
scalpers who go home every night
were working the long side of
the deal, taking profits on every
jump and going in for further scalps as they
saw the market stand up and absorb offer
ingS The heayyweights, who are notoriously
heavily short. are standing on their lines un-
disturbed. The visible supply shows Il de-
crease of 100000 bushels i'll stocks.
WHEAT IN SIGHT
is now at the lowest point of the season and
19.40O. 900 bushels under last years figure
gained in force as the price advanced, and 1
O'Clock prices were about the best of the long
session. There was large buying for local ac
count and the outside seemed TO be taking
hold more freely. While wheat was advanc-
ing lls@l4c, corn moved up l2@5sc,
and closed firm at the top. Corn
in sight decreased over 100000 bushels,
and, despite enormous receipts, local
stores diminished slightly Oh the week. Es-
timated receipts for tomorrow two days. are
S25 cars and lake engagements foot up
100, 600 tons. Baker was large buyer again
to-day. Heis shipping more corn from Chi
cago now than any other man, much of it on
direct export orders. Provisions October
ribs eXcepted) closed at the best prices of the
season. At the afternoon session wheat sold
up lsc, and declined $sc. Corn was weak and
14@SSc lower Oats and provisions easier
and lower. At $50 p. m. prices were
Wheat-September, 707sc; October, 71Isc
December. 74Isc: May. 7914c. Corn-Sep-
temher and October 4l5sc: December, 4114c;
May 44$4c. Oats-25Ssc for September and
October. Porl-S12 year. S12 80 January
Lard-S6; ;42l2@6.45 September and October
S637l2 December, So. 70 May Short Ribs
S7.S5 September and October.
THE ROUTINE REPORT.
CHICAGO, Sept. 26.-The grain markets dur
ing the early part of the session showed
more independence Of each other than for
some time. Operators appeared to be getting
over their Indifference and are individually
at work on the problem of future prices.
Cables were firm, receipts moderate, news re-
gardlng crops insignificant and the pits were
moderately active. Wheat opened somewhat
unsteady with an upward tendency credited
to covering by shorts, continued active
throughout the session and at times was con-
siderably excited, 1t was an old fashioned
bull day.TPrices were advanced 1l2c above
the closing figures of Saturday, the improve
ment being gradual at 1S@l-6c at time. 1t
was intimated early in the day that the visi-
bic supply would show a larger decrease
than had been calculated upon.
and this induced free buying.
with shorts covering freely. By the
time the visible supply was announced,
prices had advanced 5sc, and when the an
nouncement 90S 600 bu decrease was made.
prices were further advanced SBc. and the
trading was comprised III the buying of Oc-
tober and selling for November, December
and May at the ruling differences The re-
ceipts at Duluth and Minneapolis were lib
eral, but small at other points. October
opened ls@I4c higher at 70l2c and sold
steadily up 10 lac. at which figure it closed.
May opened at 7S5sc, and after selling at
7Sl4c, declined to 7Sl8@7Sl2c, but later ad-
vanced with the other futures and closed at
G9l2c. Corn was tirmer to-day with trading
quite active. the near futures in particular
showing considerable strength. Opening
Sa 81 q shade ai "a nlp
ing prices of Saturday, after which
market ruled steady, then became quite
active and prices advanced 5S64c
for near futures. and 3s@34c higher for
closing prices on Saturday. Receipts were
less than expected, and arrivals for to-mor-
row SO cars, not large considering they are
Tor 4S hours. In the afternoon the market
and weakness in wheat. October opened at
41SSc sold at 41l2c, declined to 411@14lSsc
then advanced with slight changes to 42c
receding to 4l5sc, the closing price. May
opened at 44S4c, and with slight fluctuations
went to 40l8c, closing at 44S4c. Oats were
degree Steadier, but there was no material
change in values except for May, which
ranged 1sc higher. The market did not seem
to gain any TO speak of from the improve
ment in other cereals for the speculative de-
mand was rather slack. Neither was af-
fected particularly by the afternoon weak
ness. May sold at 295s612934c, closing at 29s4c.
tied. Receipts of hogs were liberal and
prices 50l0c lower. The feature of the
trade was the shake-out in October short ribs
Almost everybody had few waiting for
Armour or somebody else to put prices up
for them 10 unload. They found, instead
that the manipulators had pulled out the
pegs. All wanted to sell at once. First trans
actions were at zoe decline from SATURDAYS
close. at $500, followed by break with
hardly breathing spell to 81. IS. but rallied
TO SI.SIl2. or 3Il2c lower than Saturday and
closed finally at 2l2c below the figure Jan
uary opened &c lower, at So 20: shorts be-
advanced 10c to $3.50 and closed steady at
the old price, S6.25@6 26l2. Lard was fairly
active and SOLD lower early, but rallied and
closed steady Stocks have been reduced
and shorts were less inclined to sell after the
first weakness. October sold at S64O66. .45,
and closed at S6.42l2@6.45. Mess pork
came in for more attention and advanced I5c
from the opening price, Sl2. .22Is January.
but rested finally at the closing price of last
week, $3.50
THE QUOTATIONS.
The leading futures. ranged as follows
Wheat-No. September, 70c closing at
cember 1880, closing at 74c; May, 7s5sc
closing at 19hc Corn-No. 9, September
4lssc, closing at 415sc; October. IL ssc, closing
at 415sc: November, 41l2c: closing at Al 5sc: !:
May, 44S4c. closing at 4434c. Oats-No. 9
September, 25Ac, closing at 25asc; October
2oAc, closing at 25Ssc; November, clos
ing at 25s4c; May, 29ssc, closing at 293tc
Mess pork. per bbl-Year, S12, closing at
Lard, per 100 0lbs-September, S6.4O, closing
at S6.42l2; october, ST. 40, closing at 81. .42IS'
November, SG.35, closing at S6.37I2; Janu-
ary, Sc; ;45, closing at S6.45. Short ribs, per
zoo lbsaassP,ember' dheI S@so5, closing at
S7S5; January, S6.25, closing at Sc. .25.
Cash quotations were as follows: Flour. in
better demand, and prices unchanged; No.
;ssppt spring gz1h wheat 70ss@5le; No; 3 spring
42c; No 2 oats 25c; No. rye, 47Iac; No
2 barley. 76c; No. flaxseed, SiO5I2; prime
Nmothy seed, 50. 25@2. 90; mess pork, per
Dbl, SI5 lard, per 100 lbs, S6.45: short ribs
sides Qoosel, S7.S11a; dry salted shoulders.
(OOXed), s.. 25M5. 80: short. clear sides